Longzhu TV

The company's strategic importance was highlighted by its ability to attract major investors. In its Series A financing round, Longzhu TV secured a notable 300 million Yuan from prominent backers including Softbank and the internet giant Tencent. This investment underscored the high-growth potential seen in the live streaming sector during that period. The platform's content strategy included securing exclusive broadcasting rights for major esports leagues like the League of Legends Pro League (LPL) and the Cross Fire Pro League (CFPL), along with rights for over 30 other gaming events. Further solidifying its market position, Longzhu TV signed exclusive broadcasting rights with world-renowned gamer Faker and all seven top teams from the Korea e-Sports Association (KeSPA).

A pivotal moment in Longzhu's history came in November 2016, when PPLive Inc. (PPTV), a media company owned by Suning Holdings Group, moved to acquire it. The acquisition was structured for PPTV to take over 100% of the online streaming business and 20% of the esports operations. This deal was part of Suning's broader strategy to deepen its involvement in the entertainment and esports industries, creating a dual-platform approach with PPTV focusing on general entertainment and Longzhu concentrating on esports. In addition to its streaming platform, Longzhu TV owned a professional esports team, Longzhu Gaming. The team was formed in January 2016 after the rebranding of 'Incredible Miracle' and competed in South Korea. After the acquisition by Suning, ownership of the Longzhu team was eventually abandoned due to regulations concerning multi-team ownership in the same league. The team later rebranded to KING-ZONE DragonX.